Lagos State Governor Babajide Sanwo Olu says the state attracted more than 6 billion dollars in technology funding between 2019 and 2024, strengthening its position as the country’s main tech hub.
Sanwo Olu, represented by his deputy, Obafemi Hamzat, spoke during the Art of Technology Lagos 7.0 event held in Victoria Island. He said Lagos now hosts about 80 percent of Nigeria’s 2,000 active startups, making it the centre of the nation’s growing digital economy.
He said the administration is committed to building a safer, smarter and greener megacity through stronger partnerships with the private sector. According to him, “Through the Lagos State Science, Research and Innovation Council, almost N2 billion has been invested in startups and research programs across sectors such as fintech, health tech, agritech and climate technology.”
He added that Lagos continues to rise on global innovation rankings, saying the state’s performance highlighted the combined efforts of both government and private players. “With continuous investments in infrastructure and enablement programs, the Lagos State government seeks to increase the contribution of technology and innovation to the state’s GDP,” he said.
Sanwo Olu also pointed to the creation of the Lagos State Cybersecurity Council, which he described as the first sub national cybersecurity body in Nigeria, set up to protect the state’s digital systems as it expands into areas like artificial intelligence, smart city projects and e governance.
The Commissioner for Innovation, Science and Technology, Tobosun Alake, said Lagos has remained the country’s biggest tech hub due to ongoing work in digital infrastructure, startup support and research funding. He said, “Lagos now accounts for 80 percent of Nigeria’s 2,000 active startups, which have attracted more than 6 billion dollars in tech funding between 2019 and 2024. The Lagos tech ecosystem, valued at 15.3 billion dollars, has continued to expand through public private collaboration and deliberate government investment.”
Meanwhile, the founder and chief executive officer of Moniepoint, Tosin Eniolorunda, praised Senator Adetokunbo Abiru for setting up the SAIL Innovation Lab in Ikorodu. He described the facility as world class and urged young Nigerians to take advantage of the digital skills and training opportunities it offers.
Eniolorunda said technology and innovation have become the key drivers of today’s global economy and encouraged youths to stay focused and committed to learning. He said Abiru has provided one of the best platforms for young people in Lagos East to grow and compete at international level.
He said, “Leadership that invests in people, especially the youth, through technology and innovation is leadership for the future.”
Responding, Abiru congratulated Eniolorunda on his achievements in the tech space, including building Moniepoint into a globally recognised unicorn.
